Bamco Inc. NY Acquires Shares of 198,310 Installed Building Products, Inc. $IBP

Bamco Inc. NY purchased a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 198,310 shares of the construction company's stock, valued at approximately $45,580,000. Bamco Inc. NY owned approximately 0.75% of Installed Building Products as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. Bank of America Corp DE acquired a new position in Installed Building Products in the second quarter valued at about $62,418,000. Windsor Advisory Group LLC bought a new position in Installed Building Products in the 2nd quarter valued at approximately $1,143,000. Man Group plc bought a new position in shares of Installed Building Products in the 2nd quarter valued at $3,135,000. Jupiter Topco LLC acquired a new stake in shares of Installed Building Products during the second quarter valued at about $2,433,000. Finally, Hsbc Holdings PLC bought a new stake in Installed Building Products during the 2nd quarter worth approximately $20,435,000. Institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Down 0.5%

NYSE:IBP opened at $245.66 on Thursday. The company has a market capitalization of $6.53 billion, a PE ratio of 26.44, a P/E/G ratio of 4.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. Installed Building Products, Inc. has a 1-year low of $193.11 and a 1-year high of $349.00. The firm's 50-day moving average price is $231.30 and its 200-day moving average price is $255.44.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The firm had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter in the previous year, the firm earned $2.95 EPS. Installed Building Products's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Installed Building Products, Inc. will post 9.82 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. Installed Building Products's dividend payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBP. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a research note on Monday, May 11th. Evercore set a $246.00 target price on shares of Installed Building Products in a report on Friday, August 7th. Stephens decreased their price objective on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. reduced their target price on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $249.30.

Insider Activity

In related news, CFO Michael Thomas Miller acquired 990 shares of Installed Building Products stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares of the company's stock, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.80% of the company's stock.

About Installed Building Products

Installed Building Products, Inc NYSE: IBP is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source